AES Sells Wind Power Stake To Singapore-Based Company

Posted by NAW Staff on May 07, 2012 No Comments
Categories : FYI

AES Corp. says it has signed an agreement to sell its 49% equity interest in the 248 MW China Wind joint venture to Singapore-based Sembcorp Utilities for a total of $86 million.

AES also disclosed that it signed an agreement to sell its 49% equity interest in Jianghe Rural Electrification Development Co. Ltd. (JHRH) to its joint-venture partner, China Three Gorges New Energy Corp., for $48 million. JHRH includes seven small hydroelectric plants, one wind farm and one co-generation plant, for a total gross capacity of 379 MW.

Subject to local customary approvals, the transactions are expected to close in the second half of the year.

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